To Libra or not To Libra

To Libra or not To Libra

An interesting fact about Libra Facebook’s native currency which was announced June 18th, it’s inspired from three distinct elements: the Roman weight measurement system, the astrological sign for justice, and the French term for freedom. The culmination of these three elements embodies the essence of Libra, which aims to be a global cryptocurrency for everyone. The focus of Libra is to create a currency that empowers billions of people, allowing them to engage in friction-less financial transactions in a simple, secure, and cost-effective manner. [2]

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Currently the facebook company is not very transparent, So trusting facebook currency is difficult and yeah there is good article on WireDiscover for Libra…

very detailed article!
as the libra coalition unites large businesses there is the risk libra will monopolize payments and force any competition out of business…

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With 2,2 billion active users and its own currency almost there, Facebook can gain more power than any country. Facebook has quite a poor record at staying true to its words or faking things up. So, whatever they are promising now, might turn out to be fake in the future. And that’s not what only I am skeptical of. The regulators too can’t keep calm about it.

I doubt if the US regulators would ever allow Facebook to take so much power in its hands.

The US government already has bad blood with Facebook. They probably hold enough regulatory power to prevent Libra from being up for mass adoption. I wouldn’t trust Facebook with my money anyway, what’s the point in crypto that is centralized?